ICTSI agree on Motukea port project framework
Motukea impacted landowner community groups in Papua New Guinea have signed a landmark agreement with International Container Terminal Services, Inc. (ICTSI), through its subsidiary, to establish a collaborative framework needed for the joint port project to move forward, ICTSI said in its press release.
ICTSI won 25-year concessions each to operate the Ports of Lae and Motukea. Last week, ICTSI subsidiary South Pacific International Container Terminal Limited (SPICTL) and the ICTSI Foundation signed a similar memorandum of agreement to enable the Lae project to move forward.
The Memorandum of Agreement upholds the Subscription and Shareholders Agreement (SSA) included in the Terminal Operating Agreement (TOA) with the PNG Ports Corporation Limited for Motukea.
ICTSI’s obligations under the agreement involve meaningful engagements with host communities through CSR initiatives. The ICTSI Foundation will work closely with local leaders and organizations to determine beneficiaries and the appropriate projects to ensure the development not only of the projects but also of the impacted communities.
A landmark undertaking between Motukea´s impacted communities and ICTSI (from left: Sepoe Gabutu, Baruni Community Development Association deputy chairman; Tom Lancan, Tatana-Araira Development Association deputy chairman and Motu Koitabu Assembly member; Iduhu Erue Igo, Baruni Community Development Association chairman, Opao Fo’o Udia, Motu Koitabu Assembly chairman Tatana-Araira Develompment Association chairman and Port Moresby City deputy governor; Manuel M. De Jesus, ICTSI Business Development Asia Vice President; and Edward Muttiah, ICTSI South Pacific chief executive officer.
Headquartered and established in 1988 in Manila, Philippines, International Container Terminal Services, Inc. (ICTSI) is in the business of port development, management and operations. As an independent business with no shipping, logistics or consignee-related interests, ICTSI works and transacts transparently with any stakeholder in the port community. ICTSI’s portfolio of terminals and projects spans developed and emerging market economies in the Asia Pacific, the Americas, and Europe, the Middle East and Africa. ICTSI has received global acclaim for its public-private partnerships with governments divesting of their port assets to the private sector.